president obama reports it and will respect the will of the people. we've reported that so many years that state hood for d.c. has been an effort for some time with no success. >>> both parties are willing to compromise on a deal to avoid that fiscal cliff. president obama called leaders to start negotiations to deal with the issue. house speaker john boehner said he's willing to compromise on raising some taxes. >> sounds good right? compromise. have we heard that lately? vice president joe biden says the obama administration is willing to compromise as well. the cliff is an across the board tax increase in spending cuts coupled at the same time and that's scheduled to kick in at the end of the year. economists say the impact could push america into another recession. >> the no steps are taken cuttings will cost you some real none. gary nuremberg as more on the sequestration issue. >> reporter: congress couldn't get a deal to cut the deficit. going off the fiscal cliff means crashing into your home. >> if we go over the fiscal cliff, we will increase